China’s shoppers are gloomy and picky

Five years ago Jack Ma, the founder of e-commerce giant Alibaba, briefly tried his hand at selling lipstick. To promote China’s largest online shopping festival, called “Singles’ Day”, Mr Ma attempted to sell more lipstick in five minutes than Li Jiaqi, a live-streaming salesman known as the “Lipstick King”. The king won.Five years on, Mr Li’s crown has slipped a little. In September he lost his cool with an online commenter who questioned the price of an eyebrow pencil he was showcasing. “How is it expensive? It has been this price for years,” Mr Li asked incredulously. “Maybe you should look at yourself. Has your pay risen? Have you been working hard in these years?”